The beer giant, which generates the lion's share of its revenues from emerging markets in Latin America and Africa, on Thursday reported a 10pc increase in group revenue to $34.5bn (£22.9bn) for the year to March 31, although pre-tax profit decreased 16pc to $4.7bn.

SAB blamed the profit drop on exceptional items, which had boosted the previous year's results.

SAB experienced particularly strong revenue and profit growth in Latin America and Asia-Pacific during the year, with signs in Australia that the Foster's business, bought by SAB in 2011, was starting to turn around.

Sales volumes in Australia were 5pc lower over the year but SAB reported 3pc growth in the fourth quarter, boosted in particular by the re-launch of Victoria Bitter.

SAB restored the original alcohol volume of Victoria Bitter after it had been watered down by its previous owner - a move that went down badly with its predominantly male drinkers.